Groupama Asset Managment Increases Stock Position in McKesson Corporation $MCK

Groupama Asset Managment raised its position in McKesson Corporation (NYSE:MCK) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,789 shares of the company’s stock after purchasing an additional 132 shares during the period. Groupama Asset Managment’s holdings in McKesson were worth $2,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Nuveen LLC bought a new position in McKesson during the first quarter valued at approximately $475,235,000. Wellington Management Group LLP grew its position in McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after acquiring an additional 418,524 shares during the last quarter. Boston Partners increased its stake in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after buying an additional 365,484 shares during the period. Voya Investment Management LLC boosted its holdings in shares of McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after purchasing an additional 312,473 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of McKesson by 68.0% in the 2nd quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after buying an additional 257,670 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent research reports. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. TD Cowen boosted their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Bank of America lifted their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Wells Fargo & Company increased their price target on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Finally, Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $887.69.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by company insiders.

McKesson Stock Performance

NYSE MCK opened at $879.00 on Friday. The company has a market cap of $108.49 billion, a PE ratio of 35.05, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58. The firm’s 50 day moving average price is $807.11 and its 200-day moving average price is $740.86.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $7.07 earnings per share. On average, analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.